NEW BRITAIN - A Connecticut entrepreneurial group has awarded Addaero Manufacturing a $25,000 grant to enhance the company’s growth.
Last Tuesday, CTNEXT announced it awarded a “Growth Company Grant” to Addaero - an additive manufacturing company for the aerospace, marine and a defense industries that is headquartered in New Britain - to improve its marketing efforts, expand its brand identity and begin targeting new industries.
“Growth Company Grant Awards are designed to support Connecticut early-stage companies that are demonstrating promise and have already reached certain financial milestones,” said Glendowlyn Thames, executive director of CTNext.
Addaero was founded in 2013 as a metal additive manufacturing company for high-precision applications.
The company works with large and small original equipment manufacturers to help them produce quality parts for production applications using additive manufacturing, also known as 3D printing.
In the past, they have received industry recognition for their quality and comprehensive approach to additive technology development and parts production project engagement.
CTNext Growth Company Grants are given to companies that have been operating for less than 10 years, have already raised private capital and have seen at least a 20 percent increase in annual gross revenues over the past three years. Funds can be used for any number of strategic projects, including sales and marketing, prototype development, customer acquisition, organizational development and more.
CTNext is a resource for entrepreneurial support in Connecticut. The goal of the program is to build a more robust community of entrepreneurs and to accelerate startup growth by providing access to talent, space, industry expertise, services, skill development and capital to foster innovation and create jobs for people in Connecticut.